FS Weekly 46: Story of two expansions, ShareTrip turns three, Chaldal raises money, Brain Station story, and more – Future Startup

Entrepreneurship, Technology, and Society | 28 August 2022 | No. 46
Today’s newsletter is a bit different in that I’ve added a curated reading list on the tech/business scene in Dhaka in the recommendation section. I hope you find it useful. Let us know if you enjoy the newsletter and have any feedback for us to improve.
On to the updates. 
I. Two Indian logistics startups expand to Bangladesh but take divergent approaches
Thanks to the consistent growth of ecommerce, logistics has become one of the fastest-growing verticals in Bangladesh. The growth of ecommerce has created new opportunities in the vertical. Several local logistics players have raised capital over the past two years and have built meaningful businesses. The consistent growth apparently led to increased attention from regional logistics startups. Three multinational logistics startups: Lalamove, Delhivery, and Ecom Express have expanded their operation to Bangladesh in recent years. Read
II. Distribution is the key to growth and how strong distribution powers 10 Minute School
Founders make many mistakes. That’s a given. Some mistakes come from what you believe. From your framework of reasoning. They are because you think in a particular way. These mistakes are hard to stop because you are doing all the right things according to your reasoning. I have made several such mistakes while building Future Startup. One such mistake is not taking distribution with enough seriousness. Read
III. Idea generation: Much more than you wanted to know
How people from all sorts of professions come up with ideas has always fascinated me. We all deal with ideas. Founders need startup ideas. Once you have started a business with an idea, you are in constant need of ideas for growth, management, competition, and so on. Writers need ideas. Footballers and tennis stars need ideas. Politicians need ideas. I can go on. But I’ll not because it does not make sense when the list can potentially run infinitely :). Simply put, the world runs on ideas. Read
IV. Brain Station 23: A Bangladeshi technology outsourcing company quietly builds a global business
Brain Station 23 was founded in 2006 with an ambition to build a world-class technology outsourcing company out of Bangladesh. Today, the company has a presence in over 25 markets globally, making it one of Bangladesh’s largest and most fascinating technology companies. Despite its scale and growth, Brain Station 23 is one of the most underrated and least talked about tech companies in Bangladesh. 
The reasons are understandable. Unlike many rising consumer technology companies in Dhaka, Brain Station 23 rarely tries to be flashy and trendy. The company prefers quiet execution over fanfare. 
But there is a lot more to Brain Station 23 than meets the eye. If it plays its cards right as it has been doing, it can become Bangladesh’s first global technology company. And tech enthusiasts and founders would be wise to pay attention to the emerging behemoth in Dhaka. Read
V. Chaldal raises follow-on investment from Startup Bangladesh Limited 
Chaldal, the country’s largest online grocery startup, announced today that it has raised BDT 5 crore in a Series C Plus funding round from Startup Bangladesh Limited, the Government-backed VC fund of the country. Startup Bangladesh co-led the round with Taavet+Sten. Read
VI. ShareTrip turns three, ShareTrip’s evolution, and what’s next for the travel-tech startup 
In a nutshell, OTAs in Bangladesh have a long way to go to surpass offline travel agencies, but the transformation, however, has begun. ShareTrip is one of the several companies that are leading this transformation. It is one of the leading and most important companies in the vertical in Bangladesh. The company has experienced phenomenal growth, overcome significant challenges like the coronavirus pandemic unscathed, and has contributed to the overall growth of the OTA industry in the country. Read
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Recommendations 
When Your Boss Is Crying, but You’re the One Being Laid Off (Paywall)
James Rhodes: ‘Find what you love and let it kill you’
Ben Horowitz on How the Best Leaders Build Culture
BUET graduate’s robotics startup raises $20M in Series A investment
Palki: An affordable locally assembled Electric Vehicle on its way
Bangladesh’s smartphone market shrinks by 3% compared to last year: Counterpoint Study
Online shop Salextra starts its offline journey
Nagad spells trouble for post office, customers
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